Cara Therapeutics (NASDAQ:CARA) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.
CARA has been the topic of a number of other research reports. Zacks Investment Research raised shares of Cara Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Cantor Fitzgerald upped their target price on shares of Cara Therapeutics from $29.00 to $33.00 in a research note on Wednesday, December 4th. ValuEngine cut shares of Cara Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $35.00 target price on shares of Cara Therapeutics in a research note on Tuesday, December 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Cara Therapeutics in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.67.
NASDAQ:CARA opened at $13.34 on Friday. The firm’s 50-day moving average is $14.83 and its 200-day moving average is $18.07. Cara Therapeutics has a 52-week low of $8.88 and a 52-week high of $27.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.86 and a current ratio of 3.86. The company has a market cap of $605.02 million, a price-to-earnings ratio of -5.36 and a beta of 2.25.
Cara Therapeutics (NASDAQ:CARA) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.05. The business had revenue of $4.51 million for the quarter, compared to analysts’ expectations of $5.58 million. Cara Therapeutics had a negative net margin of 534.91% and a negative return on equity of 69.45%. Equities analysts predict that Cara Therapeutics will post -2.58 EPS for the current year.
In other Cara Therapeutics news, Director Jeffrey L. Ives sold 2,500 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $16.00, for a total transaction of $40,000.00. Following the sale, the director now directly owns 8,500 shares of the company’s stock, valued at $136,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Derek T. Chalmers sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.05, for a total transaction of $160,500.00. Following the sale, the chief executive officer now directly owns 917,769 shares in the company, valued at $14,730,192.45. The disclosure for this sale can be found here. In the last three months, insiders sold 15,000 shares of company stock worth $240,825. 5.80% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Cara Therapeutics during the fourth quarter worth about $806,000. Geode Capital Management LLC grew its stake in Cara Therapeutics by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 540,460 shares of the biopharmaceutical company’s stock worth $8,706,000 after buying an additional 15,185 shares during the last quarter. Alliancebernstein L.P. grew its stake in Cara Therapeutics by 4.8% during the fourth quarter. Alliancebernstein L.P. now owns 45,600 shares of the biopharmaceutical company’s stock worth $735,000 after buying an additional 2,100 shares during the last quarter. Wealth Quarterback LLC bought a new stake in Cara Therapeutics during the fourth quarter worth about $14,075,511,000. Finally, Point72 Hong Kong Ltd grew its stake in Cara Therapeutics by 1,524.5% during the fourth quarter. Point72 Hong Kong Ltd now owns 2,258 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 2,119 shares during the last quarter. 67.07% of the stock is currently owned by hedge funds and other institutional investors.
About Cara Therapeutics
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on pruritus and pain by selectively targeting kappa opioid receptors in the United States. The company is developing product candidates that target the body's peripheral nervous system and immune cells.
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